How Much Does it Cost to Start a Cell Phone Repair Franchise?

There are a lot of different franchise options for people to choose from if they want to start their own business in a way that involves far fewer risks than coming up with something new. So many, in fact, that it can seem quite overwhelming! On popular option, however, is that of cell phone repairs. If this sounds like something that you are interested in, then it is likely that you have a lot of questions, not in the least the cell phone repair franchise cost and fees. Hopefully, the following frequently asked questions and their answers will give you greater insights into what is involved.

Who Qualifies for a Cell Phone Repair Franchise?

Generally speaking, you have to have a credit score of at least 550 in order to be able to sign up to the franchise. Furthermore, you will have to have some liquid assets. These are used to ensure you have something of value to sell should you require cash. You will also have to calculate what your net worth is, which you do by adding up all your assets and subtracting all your liabilities.

What Background Experience Do I Need?

One of the greatest benefits of franchises is that you will be fully trained on how to run the business, as well as on how to perform the repairs. This is included as part of your package, and you should also be able to receive further training as and when new cell phones are developed.

Do I Have to Franchise Alone?

Some people don’t meet all the necessary requirements and choose to start a franchise with someone else. This is possible, but that second person must also take part in the training program. Furthermore, they must become DPF certified.

What about the Real Estate?

The best cell phone repair franchise opportunities also help you to find a location for your store. In fact, many have partnered with malls, or even with stores such as Wal-Mart, where you can open your store. Specifically, they will help you to find a location with plenty of parking, excellent ingress and egress, and strong demographics. Furthermore, you may even be able to have exclusive rights to the area, meaning no other similar store can open, and certainly not one from the same franchise company. You may, however, purchase an existing franchise, meaning the location will already be set up for you.

What about Financing?

If you want to enter into a franchise, you usually have to pay the full franchise fee up front. Depending on your credit score, up to 40% of the rest of the balance can be financed, however. This means that you don’t have to save up too much before you can open your business.

How Long Does it Take?

You can get approved as a franchisee in as little as one week. Opening up your store usually takes between 60 and 90 days, which isn’t much at all.